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Feb 16, 2013 7:00am EST
not been able to refinance in a low-interest rate environment, a missed opportunity. to reach homeowners who are more benefit for a high-interest loan they may hold. we very much support any assistance to reach that population. we have a program that is reaching homeowners whose mortgages happen to be held guaranteed by the g s es, we have seen very good take up in the refinancing assistance for providing underwater loan holders in that population but another group of homeowners to not have mortgage held that the gsts that have not been able to take advantage of this. we think it will be good for homeowners and good for the mortgage market and the economy. >> senator coburn. >> i'm glad to be on this committee. i have one question and i will submit the rest of my question to the record. this is for mr. cordray. mentioned financial literacy that needs to be approved. i wonder if you are aware how many financial literacy programs congress has running right now. >> i can tell you by law the vice chair of financial literacy education commission, we are coordinating with other agencies, 15 or
Feb 16, 2013 6:00am EST
to financial firms as to what regulatory environment they can expect in some of these important areas so that they can get on with planning their businesses accordingly. so it's my hope and my expectation that with respect to the volcker rule, the capital rule, section 716 and many of the special prudential requirements for systemically important firms we will publish final rules this year. on volcker and the standardized capital rules in particular i think the agencies have learned a good deal from the formal comments and public commentaries addressed to these proposals. both required a difficult balance between the aimed comprehensiveness on one hand and ability to strait at firms and regulators on the other. inc. it is clear that both proposals lean too far in the direction of complexity. i would expect a good bit of change in the final rule makings on these subjects. indeed, these examples prove the wisdom of those who drafted the administrative procedure act many years ago whereby they set up a process that agencies issued proposals for notice and comment, received comments, conside
Search Results 0 to 1 of about 2